Did you miss MarketClub TV last night? If you did you missed a great intro/rant by Adam. He covered the announcement by the Fed, news from Hewlett-Packard about their CEO, Netflix's announcement and of course the Trade Triangles for the day.
Last week I wrote a blog on Jim Cramer's recessionary stock picks. This blog posting showed the five stocks that he thought would be recession proof and ones that he would suggest you buy. This was on the 8th of January, 2009.
I just happened to tune into Mr. Cramer's show on Thursday night. He basically announced that he was throwing in the towel and that it would be best to get out of these positions.
So let's see how he did with his picks. All of his hypothetical stocks purchases were made on the 8th of January using the closing price.
Here's what we are going to do... we'll take the closing price last (1/08/09), and the opening of January 30th to see just how Mr. Cramer's recessionary stock picks worked out. The good news is that Mr. Cramer was five for five. The bad news is, those five stock positions lost money.
I have often said that I am a fan of Mr.Cramer, as he is a very entertaining man. I've also have commented that he never places a stop loss on any position that I've seen. If you have other information to the contrary, please share it with me and the readers of this blog.
I have to say this is not an impressive lineup of stock picks. By using our "Trade Triangle" Technology, you would have avoided all of these stock picks that Mr. Cramer recommended. So here's my challenge to you: if you watch Mad Money, always check with our technology to see whether you should be purchasing a stock or just standing aside. I think you'll be amazed at the improved results.